1. This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person in November 2013.

2. This transaction was executed in multiple trades during the day at prices ranging from $33.76 to $33.84. The weighted-average price is reported above. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

3. This performance-based stock option under the Yahoo! Inc. ("Company") 1995 Stock Plan vested as to 477,229 options on July 26, 2013 and 401,076 options on January 26, 2014, based on the Company's performance over the applicable performance periods. Subject to certain continued employment conditions and subject to accelerated vesting in certain circumstances, up to 100% of the remaining target amount of 507,692 options is scheduled to vest on January 26, 2015 depending on the extent to which the Company meets certain financial performance goals.

4. Not applicable.

/s/ Marissa A. Mayer

05/19/2014

** Signature of Reporting Person

Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person,
see
Instruction
4
(b)(v).